![\"Elon](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2020\/12\/elon-mars-coin-768x432.jpg\")
<\/p>\n<\/p>\n
Spacex and Tesla CEO Elon Musk, widely believed to be the man taking humanity to Mars and building a permanent settlement there, tweeted his approval of the idea that Mars\u2019 economy will run on cryptocurrency.<\/strong><\/p>\n Elon Musk believes that Mars\u2019 economy will be run on cryptocurrency. He said<\/a> early this month that he is \u201chighly confident\u201d that his company Spacex will land humans on Mars \u201cabout six years from now.\u201d He further noted that it could even come as early as 2024 \u201cif we get lucky.\u201d Musk previously said that his aim is to set up a \u201cself-sustaining city on Mars as soon as possible.\u201d<\/p>\n The subject of cryptocurrency running Mars\u2019 economy briefly came up on Twitter last week. AI researcher Lex Fridman tweeted, \u201cMars economy will run on crypto.\u201d In response, Twitter handle Elon\u2019s World suggested, \u201cMarscoin.\u201d Musk himself replied with just a \u201cYes.\u201d<\/p>\n It is not clear if Musk was referring to the cryptocurrency called \u201cmarscoin\u201d that was launched in 2014 or if he was just talking about a future project with the same name. The existing project was launched for the purpose of becoming a Martian currency, according to its project page. Its code was a fork of Litecoin, and it originally traded on Nova Exchange. However, after peaking during the 2017 initial coin offering (ICO) bubble, its price dropped sharply and the coin was delisted from Nova soon afterward. Furthermore, Nova Exchange officially closed for business on Jan. 28.<\/p>\n Musk has also recently been talking about two other substantially more popular cryptocurrencies: bitcoin and dogecoin. Last week, he pondered<\/a> the idea of his company Tesla putting billions of dollars into BTC<\/a>, as suggested by the CEO of Nasdaq-listed Microstrategy which now has about 70,470<\/a> BTC<\/a> in its treasury. Musk asked, \u201cAre such large transactions even possible?\u201d He also tweeted about dogecoin a number of times over the years. Until very recently, his Twitter profile displayed: \u201cFormer CEO of Dogecoin.\u201d<\/p>\n <\/ins> <\/ins> <\/p>\n Spacex said in October that it will not be recognizing any international law on Mars. Its Starlink internet project\u2019s terms of service state: \u201cFor services provided on Mars, or in transit to Mars via Starship or other colonization spacecraft, the parties recognize Mars as a free planet and that no Earth-based government has authority or sovereignty over Martian activities. Accordingly, disputes will be settled through self-governing principles, established in good faith, at the time of Martian settlement.\u201d<\/p>\n Which cryptocurrency do you think Mars\u2019 economy will be run on? Let us know in the comments section below.<\/strong><\/em><\/p>\n The post Elon Musk Endorses Cryptocurrency for Martian Economy<\/a> appeared first on Bitcoin News<\/a>.<\/p>\nElon Musk Envisions Mars\u2019 Economy Run on Cryptocurrency<\/h2>\n
![\"Elon](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2020\/12\/elon-musk-tweet.png\" "\\"Elon")
<\/p>\n